Target exits Canada after 2013 expansion collapse
Target will close all 133 Canadian stores after posting an expected 5.4 billion pretax loss in the fourth quarter. The Minneapolis retailer cites supply chain problems, stock shortages, and weak performance as it abandons its Canadian market to focus on the United States.
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Wells Fargo profits rise in fourth quarter
Wells Fargo reported higher quarterly profit driven by credit card and corporate loan growth. Card fees rose 12 percent to 925 million while outstanding balances climbed 16 percent to 31.1 billion after acquiring Dillard's loan portfolio. energy loans surged though management signaled limited immediate credit concerns.
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